Utah...teaching personal finance

Wow – here is a scary statistic as to the state of our Banking System: The “loan-to-deposit” ratio for US banks was 51% in 1960, i.e., half of a bank’s deposits were loaned out. By 2007, the “loan-to-deposit” ratio for US banks was 113% (source: Fortune, FDIC). That’s right the banks have been lending over 100% of their deposits.

So, in a time where our fiscal I.Q. is of the greatest importance only 3 states (Missouri, Utah and Tennessee) require high school students to take at least 1 semester of personal finance (source: House of Representatives). Yeah Utah!

Were not out of the woods just yet…the dollar value of ARMs (adjustable rate mortgages) that are expected to be reset from their initial interest rate level will peak in August 2011 and is estimated to be $40 billion for that month. Less than $20 billion of ARMs are expected to be reset this month (June 2009). The previous peak in monthly ARM resets occurred in July-August-September 2008 when $35 billion was reset each month (source: Credit Suisse).

All of that being said… its 6/03/09…I keep these live links posted for the different search criteria that I receive the most requests for.

• Southern Utah Foreclosures
• Southern Utah Adult Communities
• Southern Utah Golf Homes
• Washington City Utah Homes & Condos
• Santa Clara Utah Homes & Condos
• Southern Utah Horse Property
• Washington County Board Of Realtors Hot Sheet

This last handy little link will pull you into The Washington Country Board of Realtors MLS system. From there you can see the newest MLS listings on the WCBR MLS system as well as all price reductions…Knowledge is Power!

As of today June 3, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/3/09 thru 6/3/09.
• 1,551 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

In any event its off to Twitter…I have few Twitter names, and here are two: StGeorgeHomes or EquityStGeorge. I post these same stats there if you would like to get…”Just The Fact’s” Till Tomorrow. Saint George Homes.